Commonwealth Numbered Acts

TAXATION LAWS AMENDMENT ACT (NO. 3) 2003 NO. 101, 2003 - SCHEDULE 4

Income Tax Assessment Act 1936

1 After subsection 140ZQ(1)

Insert:

When rebatable proportion is the same as another pension or annuity

(1A)

Despite paragraph (1)(a), if a rebatable superannuation pension or a rebatable ETP annuity:

(a)

is payable to a person as the result of the death of another person; and

(b)

is a reversion of another pension or annuity that was already payable to the other person;

the rebatable proportion of the pension or annuity is the same as the rebatable proportion of the other pension or annuity.

2 Application

The amendment made by this Schedule applies, and is taken to have applied, in relation to the 1999-2000 income year and later income years.